Earnings slowdown hits China Mobile

China Mobile, the world's largest phone company by subscribers, saw its net profit edge up just 0.3 per cent to 27.88 billion yuan (HK$34.65 billion) in the first quarter, much slower than its 2.7 per cent net profit growth last year. The Hong Kong-listed firm's revenue grew 5.7 per cent to 134.7 billion yuan in the first quarter.

JP Morgan predicts that the state-owned telecommunications giant's net profit will fall 3.5 per cent for the whole of this year.

via Business feed http://www.scmp.com/business/companies/article/1221060/earnings-slowdown-hits-china-mobile